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ON THE AGGREGATION OF EXPERTS' INFORMATION IN BONUS–MALUS SYSTEMS

Published online by Cambridge University Press:  10 August 2017

Víctor Blanco  and
José M. Pérez-Sánchez
Víctor Blanco*
Affiliation:
Department of Quantitative Methods for Economics & Business, Universidad de Granada, 18011 Granada, Spain
José M. Pérez-Sánchez
Affiliation:
Department of Quantitative Methods for Economics & Business, Universidad de Granada, 18011 Granada, Spain E-Mail: josemag@ugr.es
*
E-Mail: vblanco@ugr.es
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Abstract

In this paper, we propose a new family of premium calculation principles based on the use of prior information from different sources. Under this framework and based on the use of Ordered Weighted Averaging operators, we provide alternative collective and Bayes premiums and describe some approaches to efficiently compute them. Several examples are detailed to illustrate the performance of the new methods.

Keywords

Non-life insurancepremium calculation principlesOrdered Weighted Averagingmathematical programmingBayesian statistics
Type
Research Article
Information
ASTIN Bulletin: The Journal of the IAA , Volume 48 , Issue 1 , January 2018 , pp. 311 - 337
Copyright
Copyright © Astin Bulletin 2017 

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